I wonder if the use of LLMs will extend the lifespan of this software. Instead of hiring a niche programmer, they can now offload the syntax and nuances of COBOL to the AI while being supervised by experienced developers.

Granted, perhaps banking isn’t the ideal place to experiment with this type of technology, but it does seem like a promising use case.

Nothing in high-stakes critical infrastructure is a promising use case for throwing stuff at the wall and seeing what sticks

Bad idea. A mistake could cost billions to a bank.